Flamel Technologies, Inc

Flamel Technologies Announces Two New Micropump^® Feasibility Studies with Major Pharmaceutical Companies; Change to NASDAQ Trading Symbol

Lyon, France, Jan. 10, 2001 Flamel Technologies (NASDAQ:FLML) has signed two new feasibility study agreements to develop new controlled release dosage forms using Flamel’s Micropump® technology. One agreement, with a major Japanese multinational, is for an existing proprietary compound with substantial current sales, and the other is for a new chemical entity being developed by a major multinational pharmaceutical company headquartered in the United States.

Dr. Gérard Soula, chief executive officer of Flamel noted that “The addition of these two new Micropump^® projects to the existing partnerships we currently have demonstrates the potential versatility and demand for Flamel’s Micropump^® drug delivery platform. Projects with partners such as these provide an important compliment to our internal development efforts as we seek to extend the application of our technology platforms to a wide range of compounds”.

“With the addition of these two new partnerships, Flamel now has six significant collaborations with international pharmaceutical partners,” said Dr. Michael Myers, executive vice president – business development of Flamel. “Interest in Flamel’s technology platforms is growing as we work to identify additional opportunities for productive collaboration with major pharmaceutical partners.”

Flamel also announced that, effective today, the NASDAQ trading symbol for the company will be FLML.

Flamel Technologies S.A. is a biopharmaceutical company principally engaged in the development of two unique polymer-based delivery technologies for medical applications. Flamel’s Medusa^® nano-encapsulation technology is designed to deliver therapeutic proteins. Micropump^® is a controlled release technology for the oral administration of small molecule drugs. Flamel’s expertise in polymer science has also been instrumental in the development of a photochromic eyeglass lens product now marketed by Corning Inc. Additionally, Flamel has developed new herbicide delivery systems now being tested by Monsanto and has patented a biomaterial, ColCys™.

This document contains a number of matters, particularly as related to the status of various research projects and technology platforms, that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The presentation reflects the current view of management with respect to future events and is subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements. These risks include risks that products in the development stage may not achieve scientific objectives or milestones or meet stringent regulatory requirements, uncertainties regarding market acceptance of products in development, the impact of competitive products and pricing, and the risks associated with Flamel’s reliance on outside parties and key strategic alliances. These and other risks are described more fully in Flamel’s Annual Report on the Securities and Exchange Commission Form 20-F for the year ended December 31, 1999.